PRESS RELEASE
Governor Sejko meets the World Bank delegation

On 3 June 2021, the Governor of the Bank of Albania, Mr Gent Sejko, met with a delegation from the World Bank (WB). The purpose of this meeting was to introduce Mr Emanuel Salinas, the new Chief Resident Representative of the WB in Albania.

Mr Emanuel Salinas joined the World Bank in 2005 and following the successful completion of his mission in Bosnia & Hercegovina and Montenegro, He will start his appointment in Albania on July 1, 2021.

Mr Salinas will be the successor of the former official, Ms Maryam Salim, who is successfully finalising her 4-year term as Country Manager of the World Bank for Albania. At the beginning of the meeting, Governor Sejko thanked Ms Salim for her precious contribution during these years and for several specific initiatives undertaken in the areas of reformation programme and policies.  

Governor Sejko expressed special gratitude also to the World Bank for providing technical assistance to the Bank of Albania, particularly in the areas of banking supervision, payment systems and resolution.

During the meeting, the Governor presented an overview of the economic developments in Albania, focusing on the impact of the pandemic on the economic performance, developments in the financial and banking sector, as well as expectations on future economic indicators. He continued with the measures taken by the Bank of Albania as a response to the pandemic shock, highlighting the increase of monetary stimuli, through the cut of the policy rate and increase of liquidity injections, as well as amendments to the regulatory framework. The purpose of these measures was to ease the temporary extension of debt payments and restructure bank loans for clients facing solvency issues.

The representatives  of the Word Bank assessed positively the policy implemented by the Bank of Albania, in response to the situation created by the COVID-19 pandemic, and its contribution to reducing non-performing loans, improving the credit environment, the supervisory and regulatory framework, and its alignment with the best international standards. In this regard, they particularly assessed the Bank of Albania’s policy on safeguarding the financial stability and banks’ soundness, despite the challenges and difficulties faced by Albania during the pandemic situation and even earlier.  

In addition, the delegation commended Governor Sejko regarding the stated commitment throughout the implementation of joint projects, which have come to fruition.

On his side, Mr Salinas declared that he will remain committed to continue the technical assistance programmes and to further deepen the interinstitutional collaboration during his term, as well.

In conclusion, the interlocutors discussed about the future projects of the Bank of Albania, which might be supported by the technical assistance provided by the World Bank.